HDFC MF launches two sectoral ETFs

HDFC Mutual Fund has launched two sectoral ETFs – HDFC Nifty IT ETF and HDFC Nifty Private Bank ETF. These funds will invest in Nifty IT Index and Nifty Private Bank Index, respectively.

Both the funds will have exposure to 10 largest stocks in the respective sectors listed on the NSE and they are rebalanced semi-annually in March and September.

In a press release, Navneet Munot, MD and CEO, HDFC MF said, “HDFC AMC has been one of the oldest players in index solutions with proven capability, giving a definite edge. Launch of HDFC Nifty IT ETF and HDFC Nifty Private Bank ETF are a natural extension to include these sector ETFs as part of our endeavour to offer diversified product bouquet for our investors.”